Hi Rama,
You can create Predefined filter either by using
1. Direct option under Profile and Target

2. If you have a query activity which you are using quite frequently and wants to use as Predefined filter then you can save that as well
- Click on a query in your campaign workflow, click Edit query and then Save

3. Also, if you have any folder on which you have defined any conditions as Restrictions and you want top save that as filter to use on more than one folder then again click on save button on the right top

P.s: You can change the visibility of this custom predefined filter under Parameters Tab also if required.
Thanks,
Kapil